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Use a closing company.... (by KC):

Re: >> Now I realize that I don't know how to proceed with the closing.<<

This entirely new subject inquiry should have been posted as a whole new thread with a new topic heading, rather than just being plopped within an existing thread entitled "Using Paypal". Nonetheless, answers follow:

I recommend that you and your buyer promptly engage the services of a closing company. Customary fee is about $300, most often paid by the buyer (except in instances of a truly desperate seller). Whoever is paying the closing costs should obviously be able to select his/her own closing company of choice. The fee includes escrow services and preparation and proper recording of a new deed. The closing company will want you (seller) to provide them with a copy of the current recorded deed. If they have to track down the current deed on their own, valuable time is lost (and your buyer may have a change of heart in the meantime). Transfer fees (generally ranging from $50 up to $400, depending on the particular resort, and some resorts don't charge one at all) are virtually always paid by the buyer.

Personally, I happen to like Timeshare Transfer of Vero Beach, Florida to use as a closing company, but be aware that there are many states in which they do NOT handle closings. Their web site lists each and every such excluded state. For the record, I am NOT afffiliated with them in ANY way, but I HAVE used them myself many times without a hitch --- and I will use them again in the future without hesitation. Timeshare closings is all that they do, and they do it well. There are numerous other choices of closing companies, of course. A few might be $25 or $50 cheaper, but most will be about the same (or more) money --- and NONE will be better than TT, in my personal opinion. ===========================================

RE: >> Is there a standard contract...<<

No. In fact, there doesn't really need to be a contract at all if a closing company serves as "middleman" for the transaction, ensuring that buyer and seller are on exactly the "same page" with all of the details about price, week, unit, any "spacebanked" weeks, next available use, etc., by communicating with buyer and seller separately and confirming full agreement of both (and with the resort) on all details and particulars. Let a closing company handlle the deed preparation and recording if you are not already well familiar with the associated legalities, as (no disrespect intended) appears to be the case. ============================================

Re: >> .... and do I need an attorney? <<

For a timeshare located in the state of South Carolina, the answer is yes, by state law. In most states, the answer is no. Most good closing companies do have an attorney either on staff or on retainer to prepare and approve all deeds going through that closing company office. =========================================

Re: >> Who pays the closing costs?<<

Already answered above, (usually) the buyer. ========================================

Re: >> I would greatly appreciate some advice.<<

You just got a whole bunch of it above, in very clear and specific detail, to follow or ignore as you may see fit. ;-) =====================================